Penelitian Pajak 15032018

Agenda

Taxation in Indonesia

Taxation in Indonesia

Research in Taxation

Research in Taxation

Paper Discussion

Paper Discussion

Taxation

Pengertian Pajak

Prof. Dr. Rochmat Soemitro, S.H

iuran rakyat kepada kas negara berdasarkan undang-undang (yang dapat dipaksakan) dengan tidak mendapat

jasa timbal (kontraprestasi), yang langsung dapat ditunjukkan dan yang digunakan untuk membayar

pengeluaran umum

(Dasar-dasar hukum pajak dan pajak pendapatan 1990:5)

Definisi Pajak

•

_{Dipungut berdasarkan undang-undang}

•

_{Tidak menunjukkan adanya kontraprestasi}

•

_{Dipungut negara baik pemerintah pusat dan daerah}

•

_{Diperuntukkan pengeluaran pemerintah}

_

_public

investment

•

_{Mempunyai tujuan lain}

_

_reguler

Mengapa Belajar Pajak ??

PAJAK Kewajiban

Individu

Kewajiban Perusahaan

(AK)

Penerimaan Negara (ASP) Pertumbuhan

ekonomi (Makro)

Pajak dalam Laporan Keuangan

 Arus kas

 _{Laporan laba rugi}

 _{Laporan posisi keuangan}

Pajak dalam Laporan Keuangan

 _{Catatan atas Laporan keuangan}

Ilustrasi Pajak Perusahaan

LABA RUGI

Laba sebelum pajak xxx

Pajak kini (current tax) (xxx) Pajak tangguhan (deferred tax) xxx

Laba tahun bjln dari operasi dilanjutkan xxx Kerugian/pendapan operasi dihentikan xxx Laba tahun berjalan xxx

Penghasilan komprehensif lain xxx Pajak penghasilan terkait (xxx)

Total laba komprehensif xxx

Laba yang dapat diatribusikan kepada: Pemilik entitas induk xxx

Kepentingan non pengendali xxx

NERACA

Aset Pajak Tangguhan xxx atau Liabilitas Pajak Tangguhan xxx

Pajak dalam APBN 2018

Pertumbuhan Penerimaan Pajak

Tax Ratio

Arti sempit: hanya pajak saja

Arti luas: termasuk SDA Migas dan minerba

Penerimaan Pajak

Dalam Triliun Rp

Pertumbuhan per tahun

Komposisi Penerimaan Pajak APBN 2017

Komposisi Pajak dan Tax Amnesty

Badan

Penghasilan

Beban yang dapat dikurangkan

Penghasilan kena pajak

X tarif pajak

Pajak terutang 1thn fiskal

Kredit pajak

• Angsuran pajak (PPh25)

• Dipotong pihak lain (22,23)

• Pajak luar negeri (24) Pajak kurang/lebih

Perbedaan Pajak dan Akuntansi -1

PSAK

Undang-Undang

AKUNTANSI PAJAK

PERBEDAAN

Permanen Temporer

Pajak Tangguhan:

 _Aktiva/utang

 Beban/Pendapatan

Penelitian: Book tax Gap

Eff Tax Rate

UU PAJAK PENGHASILAN (UU 36/2008)

Perubahan keempat dari UU 7/1983

Subyek Pajak

• _{Obyek; bukan obyek; pengurang dan bukan pengurang}

Obyek Pajak

• Tarif, struktur modal, harga transaksi, revaluasi

Cara Menghitung Pajak

• PPh 21; 22; 23; 24; 25

Pelunasan pajak dalam Tahun Berjalan

• _{PPh 28; PPh 29}

Perhitungan pajak akhir tahun

Orang Pribadi (OP)

Badan

Bentuk usaha tetap (BUT),

merupakan subyek pajak yang

perlakuan pajaknya dipersamakan

dengan subyek pajak badan.

Warisan yang belum terbagi sebagai

satu kesatuan, bersifat

menggantikan yang berhak.

Subjek Pajak

Pasal 2 Ayat (1 dan 1a)

Merupakan

setiap tambahan

kemampuan ekonomis

yang:

-

Diterima

atau

diperoleh

wajib pajak.

- Berasal

dari Indonesia

maupun

dari

luar Indonesia

.

- Dapat dipakai

untuk konsumsi

atau

untuk menambah kekayaan

wajib

pajak.

Definisi Penghasilan

Pasal 4 Ayat (1)

Dengan nama dan dalam bentuk

apapun

UU PPN & PPnBM (UU 42/2009)

Perubahan keempat dari UU 8/1983

Pengukuhan pengusaha kena pajak

Kewajiban melaporkan usaha, memungut dan menyetor dan melaporkan pajak terutang

Obyek Pajak

Tarif dan Cara Menghitung Pajak

Saat dan tempat terutang

Laporan Perhitungan pajak

Ketentuan Khusus - pemungut

Pembukuan dilakukan Berdasarkan

Standar Akuntansi Indonesia

 _{IFRS hanya diadopsi PSAK full 2012. Tahun 2013 dilakukan revisi standar dan}

ditambahkan standar baru 65, 66, 67, 68 yang efektif pada 2015.

 _{Pada 2015 dikeluarkan PSAK 69 Agrikultur dan revisi beberapa standar.}

 _{Pada tahun 2016 dikeluarkan PSAK 70 dan PSAK 71 & PSAK 72. Tahun 2017}

PSAK 73 efektif berlaku pada 2020

 _{SAK ETAP dikeluarkan tahun 2010, dan 2016 dikeluarkan SAK EMKM}

 _{Pada 26 Mei 2016: Revisi PSAK 108 Akuntansi Transasi Asuransi Syariah dan}

PSAK 101 LK Syariah

Pernyataan Standar Akuntansi Keuangan - PSAK

Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas Publik signifikan - SAK-ETAP

Standar Akuntansi Entitas Mikro Kecil Menengah - SAK EMKM

Standar Akuntansi Syari’ah – SAK Syariah

Standar Akuntansi Pemerintahan – SAP PP 71 tahun 2010

Riset pajak di Indonesia

• _{Kebijakan perpajakan :}

– _{Kepatuhan WP terhadap peraturan pajak}

– _{Tax gap = antara potensi pajak dengan jumlah pajak yang telah}

masuk baik dari sisi obyek maupun subyek

– Pengenaan pemotongan pajak

– Implikasi kebijakan perpajakan

• _{Tax amnesty, Revaluasi aset}

• _{Reformasi pajak: E-filling; E-billing} • _{TP Doc}

– _{Pajak dan perekonomian}

• Trend Penerimaan pajak

• _{Tarif pajak dan kompetisi ekonomi}

Riset Perusahaan

• _{Pengungkapan Akuntansi Pajak penghasilan}

– _{Pengaruh pajak terhadap cost of debt and capital}

–

_{Ketaatan perusahaan memenuhi kewajiban}

pajak

–

_{Pajak dalam laporan keuangan  book tax}

difference;

earning management

; pajak

tangguhan.

–

_{Tax management, tax avoidance, tax evasion}

–

_{Pajak internasional  transfer pricing, heaven}

countries, thin capitalization

• _{Book tax different:}

– _{Penyebab Time & Permanent (tax planning) – aset tetap, foreing}

operation, debt

– Potensi rekonsiliasi fiskal untuk earning management.

– _{Dampak Book tax gap terhadap persistensi laba, nilai perusahaan.} – _{Faktor yang mempengaruhi book tax different : CG, kepemilikan} – _{Hubungan tax planning dan earning management}

– _{Pengukuran book tax different}

• _{Penelitian atas Surat Ketetapan Pajak  riil earning management}

Perilaku

• _{Penghindaran pajak (persepsi, laporan keuangan)}

–

_{Faktor yang mempengaruhi penghindaran}

pajak

• _{Penelitian experiment terkait perilaku penghindaran pajak} • _{Ketaatan pajak}

–

_{Faktor yang mempengaruhi  etika,}

kepercayaan pada pemerintah, religuisitas.

• _{Etika dalam perpajakan  data primer}

Penelitian Pajak

•

_{Penelitian pajak sebelum pertengahan 1980 menurut}

Shackelford dan Shevlin (2001) dikategorikan menjadi:

– _{legal research,  mengevaluasi efek pajak pada transaksi}

exogenous, dan biasanya dipublikasikan pada jurnal hukum; dan

– _{policy studies,  mengevaluasi distribusi atau efisiensi efek pajak,}

biasanya dipublikasikan di jurnal akuntansi publik.

•

_{Riset banyak dijumpai dalam jurnal akuntansi seperti TAR,}

JAR, JAE.

•

_{Riset pajak bersifat multidisipliner sehingga dikaitkan}

dengan makro ekonomi, perilaku, kebijakan publik



National Tax Journal, Journal of Public Econmics, Journal of

Accounting and Public Policy

Penelitian Pajak

• _{Paper pajak dalam tiga jurnal akuntansi terkemuka.}

Klasifikasi Penelitian Pajak

•

_{Klasifikasi penelitian pajak menurut Shevlin (1999)}

–

_{Riset kebijakan}

_

_{bagaimana pajak meningkatkan}

aktivitas ekonomi, mendistribusikan kekayaan dan

bagaimana meningkatkan pajak. Evaluasi atas

kebijakan pajak apakah dapat mencapai tujuannya.

(JATA & NTJ)

–

_{Perencanaan pajak}

_

_{bagaimana individu dan}

perusahaan merespon peraturan pajak.

–

_{Kepatuhan pajak}

_

_{judgemnet and decision making}

sehingg banyak dipengaruhi oleh bidang psikologi

Klasifikasi Penelitian Pajak

•

_{Klasifikasi penelitian pajak menurut Shacklelford dan}

Shevlin (2001)

– Trade off pajak dan non pajak  Perencanaan pajak

mempengaruhi pilihan akuntansi keuangan dan pertimbangan akuntansi keuangan mempengaruhi perencanaan pajak (tidak independen)

• _{Pelaporan keuangan (inventory, intertemporal income shifting,} • _{Agency cost}

– _{Pajak dan penilaian saham  dampak pajak atas M&A, capital}

structure, pengaruh pajak investor terhadap harga saham

– _{Multijurisdictional  perusahaan multinasional dan perusahaan}

multistate

Klasifikasi Penelitian Pajak

•

_{Klasifikasi penelitian pajak menurut Hanlon dan Heitzman}

(2010) :

– _{peran informasi beban pajak penghasilan  perbedaan antara}

laba akuntansi dengan penghasilan kena pajak terkait dan implikasinya terhadap pelaporan keuangan;

– _{tax avoidance (penghindaran pajak) perusahaan;}

– _{efek pajak terhadap pengambilan keputusan perusahaan}

termasuk investasi, struktur modal, dan bentuk organisasi, serta kebijakan pajak mana yang efektif dilihat dari implikasi nyatanya terhadap keputusan perusahaan.

– _{pajak investor (investor level taxes) dan penilaian aset (asset}

pricing) – terkait riset mengenai dampak dari pajak dividen untuk investor dan pajak atas capital gains

Klasifikasi Penelitian Pajak

•

_{Klasifikasi penelitian akuntasi pajak menurut Graham et}

al (2012) :

–

_{earnings management}

_

_{valuation allowance, diskresi}

pelaporan beban pajak,pendapan

–

_{hubungan antara perbedaan nilai buku dengan nilai}

pajak

(

book-tak differences

) dengan

karakteristik/kualitas laba; dan

–

_{Pengaruh informasi pajak terhapda nilai saham}

Metodologi Penelitian Pajak

•

_{Coyne (2010)}

– _Analitis

– _{Archival / empiris} – Eksperimental

– _{Metode lainnya}

•

_{Klasifikasi lain}

– _{teoritis, normatif}

– _{Behavioral / judgement and decision making} – _{Review / deskriptif}

– _{Survey; studi lapangan}

Research in Taxation

Methodology

• _{Experimental market}

• _{Behavioral /judgment and}

decision making – 40%

• _Analythical

• _{Empirical – 50%}

Classification

 _{Tax Policy research  effectiveness of}

policy to achieve the goals

 _{Tax planning research  respond on tax}

rule

 _{Complience Research}

Top Accounting Journal & Taxation • The Journal of American Taxation

Association (JATA)

• Journal of Accounting Review (JAR) • The Accounting Review (TAR)

• Journal of Accounting and Economic

Tax Research

Research in Tax Planning

TAX RESEARCH IN ACCOUNTING

• _{This paper traces the development of archival, microeconomic-based,}

empirical income tax research in accounting over the last 15 years.

• _{The paper details three major areas of research:}

– _{the coordination of tax and non-tax factors,} – _{the effects of taxes on asset prices}

– _{the taxation of multijurisdictional (international and interstate) commerce.}

• _{Methodological concerns of particular interest to this field also are discussed.} • _{Research before 1980}

–

_{Legal research, evaluating the effects of taxes on}

exogenous transactions, usually published in law

journals, and

–

_{Policy studies, evaluating the distributional or}

efficiency effects of taxes, usually published in public

economics journals.

D.A. Shackelford, T. Shevlin, Journal of Accounting and Economics

Research Question

•

_{Tax research has long attempted to address three}

questions of scholarly and policy interest:

– _{Do taxes matter?} – _{If not, why not?} – _{If so, how much?}

•

_{Current tax research in accounting addresses these}

questions using a framework developed by by Scholes

and Wolfson (SW, 1992).

Scholes–Wolfson paradigm

•

_{Effective tax planning requires the [tax] planner to consider}

the tax implications of a proposed transaction for

all of the

parties

to the transaction.

•

_{Effective tax planning requires the planner, in making}

investment and financing decisions, to consider not only

explicit

taxes

(tax dollars paid directly to taxing authorities)

but also implicit taxes (taxes that are paid indirectly in the

form of lower before-tax rates of return on tax-favored

investments).

•

_{Effective tax planning requires the planner to recognize that}

taxes represent only one among many business costs, and

all costs

must be considered in the planning process: to be

implemented, some proposed tax plans may require

exceedingly costly restructuring of the business.’’ (SW, p. 2).

Scholes–Wolfson paradigm

•

_{The three themes - All parties, all taxes, and all costs}

provide a structure for tax management that achieves

organizational goals, such as profit or wealth maximization.

•

_{The themes imply that tax minimization is not necessarily}

the objective of effective tax planning.

•

_{Effective tax planning must be evaluated in the efficient}

design of organizations and through adoption of a

contractual perspective.

•

_{The paradigm implicitly assumes that if all contractual}

parties, all taxes (explicit and implicit), and all non-tax costs

can be identified and controlled, then the observed tax

behavior will be rational and predictable.

•

_{No paper challenges the validity of the SW framework.}

Tax and non-tax tradeoffs

• _{Financial reporting considerations} – _{Inventory accounting}

– _Compensation

– Inter-temporal income shifting

– _{Capital structure, divestitures and asset sales} – _{Regulated industries}

– _{Other setting – accounting for depreciable asset} • _{Agency Costs}

– _Compensation – _{Tax shelters}

• _{Financial reporting considerations} – _{Inventory accounting}

– Compensation

– _{Inter-temporal income shifting}

– _{Capital structure, divestitures and asset sales} – Regulated industries

– _{Other setting – accounting for depreciable asset} • _{Agency Costs}

– _Compensation – _{Tax shelters}

• Tax research in accounting examines the coordination of taxes and other factors in business decisions.

• Taxes cannot be minimized without affecting other organizational goals.

• This review of the tradeoff literature is dichotomized:

– the interaction of financial reporting and tax factors – the effects of agency costs on tax minimization.

• Tax research in accounting examines the coordination of taxes and other factors in business decisions.

• Taxes cannot be minimized without affecting other organizational goals.

• This review of the tradeoff literature is dichotomized:

– the interaction of financial reporting and tax factors – the effects of agency costs on tax minimization.

Taxes and assets prices

• _{Merger and acquisition} • Capital structure

• _{Implicit taxes}

• _{Equity price and investor taxes} • _{Dividends tax capitalization}

• _{Capital gains tax capitalization studies of equilibrium prices} • _{Price pressure arising from capital gains taxes}

Research in Taxation - methodology

• _Methodology

– _{Experimental market}

– _{Behavioral /judgment and decision making} – _Analythical

– _Empirical

• _{Classification}

– Tax Policy research  effectiveness of policy to achieve the goals

– _{Tax planning research  respond on tax rule} – _{Complience Research}

Suggestion Future Research

• _{First, the better research in the future will move beyond simply}

documenting that taxes matter.

• _{Second, additional theoretical guidance is needed to move the literature}

beyond SW and longstanding finance papers.

• _{Third, the methodological concerns raised in this paper imply that more}

rigorous econometrics may be needed.

• _{Fourth, we anticipate tax research in accounting to better incorporate}

knowledge from other areas, particularly finance and public economics.

• _{Fifth and closely related to the last development, tax research in}

accounting should increasingly impact the tax research being

undertaken in finance and economics as the common interest across disciplines is better recognized.

Suggestion

•

_{We close with a few thoughts about potentially new areas}

of research.

– _{First , strong links have been developed between financial}

accounting and taxes.

– _{Second, a potentially understudied topic is accounting for income}

taxes, which neither tax research nor financial accounting research has closely evaluated.

– _{Finally, little is known about the potential cross-sectional}

differences in the willingness of firms to avoid taxes.

•

_{One determinant that has attracted attention is the extent}

to which managers or other insiders control the firm.

Paper

A Review of

Tax Research

Michelle Hanlon and Shane Heitzman, Journal of Accounting and Economics

(2010) (50) 127-178.

Introduction

•

_{Shackelford and Shevlin (2001)}

_{limit their review to research}

published in accounting outlets and describe the development of

the relatively young archival, microeconomic-based income tax

literature that arose from the Scholesand Wolfson framework.

•

_Maydew(2001)

_{emphasizes the need for tax researchers in}

accounting to think more broadly and to incorporate more theory

and evidence from economics and finance.

•

_{Tax research has along history in many disciplines.}

•

_{The goal in this paper is to integrate the theoretical and empirical}

tax research from

accounting

,

economics

, and

finance

, to

summarize what is known and unknown, and to offer suggestions

for future research.

Review Tax Research

Review Tax

Research

The informational

role of accounting

for income taxes

corporate tax

avoidance

Taxes, book-tax

tradeoffs, and real

corporate decisions

Taxes and asset

pricing

Informational role of AFIT

Summary and suggestions for

the future

The informational

role of accounting

for income taxes

Book-tax conformity

Sources of differences between book and

taxable income

A taxonomy of the literature and review of the evidence

• Inferences from book-tax differences about current and future earnings.

• Are earnings managed through the tax accounts? • Do changes in the

valuation allowance reveal manager’s private

information about future performance?

Tax Avoidance

Summary and suggestions for the

future

corporate tax

avoidance

Measuring tax avoidance Effective tax rate measures

• Effective tax rate measures

• Long-run effective tax rates

• Book-tax differences • Discretionary or

‘‘abnormal’’ measures of tax avoidance

• Unrecognized tax

• Tax shelter firms benefits (UTB)

Determinants of tax avoidance (firm

characteristic, manager effects,

ownership, governance,

incentives

Theory of corporate tax avoidance

• Tax system : tax rate • Legal system &

governance

The consequences of tax avoidance

• Direct: CF, Firm Value

• Indirect: cap

structure decision

Pengukuran Tax Avoidance

Metode

Pengukuran

Cara Perhitungan Keterangan

GAAP ETR Total tax expense per dollar of

pre-tax book income

Current ETR Current tax expense per dollar

of pre-tax book income

Cash ETR Cash tax paid per dollar of

pre-tax book income Long-run cash

ETR

Sum of taxes paid per over n years divided by the sum of pre-tax earnings over n years ETR

Differential

Statutory ETR- GAAP ETR The differences of between the statutory ETR and the firm ´s GAAP ETR

DTAX Error term from following regression : ETR differential x Pre-tax book income = a +b x controls + e

The unexplained portion of the ETR differential

Metode

Pengukuran

Cara Perhitungan Keterangan

GAAP ETR Total tax expense per dollar of

pre-tax book income

Current ETR Current tax expense per dollar

of pre-tax book income

Cash ETR Cash tax paid per dollar of

pre-tax book income Long-run cash

ETR

Sum of taxes paid per over n years divided by the sum of pre-tax earnings over n years ETR

Differential

Statutory ETR- GAAP ETR The differences of between the statutory ETR and the firm ´s GAAP ETR

DTAX Error term from following regression : ETR differential x Pre-tax book income = a +b x controls + e

The unexplained portion of the ETR differential

Tax Avoidance

Metode

Pengukuran

Cara Perhitungan Keterangan

Total BTD Pre-tax book income – ((U.S. CTE + Fgn CTE / U.S. STR) – (NOL_t – NOL_t-1))

The total differences between book and taxable incomes Temporary

BTD

Deferred tax expense/ U.S. STR

Abnormal total BTD

A measure of unexplained total book-tax differences Unrecognized

tax benefit

Disclosed ammount post-FIN-48 Tax liability accrued for taxes not yet paid on uncertain positions

Tax shelter activity

Indicator variable for firms accused of engaging in a tax shelter

Firms identified via firm

disclosures, the press, or IRS confidential data

Marginal tax rate

Simultated marginal tax rate Present value of taxes on an additional dollar income

Sumber : Hanlon dan Heitzman (2010)

Tax & Corporate Decison

Capital structure

• Estimating the tax benefit of debt

• Measuring leverage

• Summary and thought for the future

• Payout policy

Taxes, book-tax

tradeoffs, and real

corporate decisions

Investment

• Theory of investment and taxes: a brief background

• Taxes and

investment: some evidence

• Investment in intangibles

• Investment location decisions

• The reinvestment or repatriation decision • Corporate inversions

to tax havens • Summary and

thoughts for future research

Organizational form

 _{The choice of}

organizational form

 _{Summary and thought}

for future research

Taxes and other dec: transfer pricing,

aquistioan and compensation

 _{Transfer pricing}  _{Merger and}

aquisition

 Executive compensation

Tax & Aset Pricing

Remaining issues and Ques for future research

• How relevant the marginal investor? • Are dividend taxes

priced differently across firms

• Asset pricing in the open economy

Investor-level

taxes and asset

prices

Deviden taxation

• The economic effects of dividen taxation: a brief introduction

• Log-horizon returns: the effect of dividend yiled on expected returns

• Event study predictions: the valuation of

dividend tax rate change

• Ex-devidend day study • Evidence from valuation

models • Summary

Capital gains taxation: capitalization & lock-in

• Capital gains taxes and expected return

• Stock market realization and lock-in effect

Research in

Accounting for

Income Taxes

John R.Graham, Jana S.Raedy , Douglas A.Shackelford

The Rule Governing Accounting for Income Taxes

Temporary difference

Permanent Different

Uncertain tax contingent

Why Accounting of Income Taxes

Income Tax expense is significant expense

Tax accounts provide information to an

adversarial party

Tax account provide an alternative

measure of income

Research in Accounting for Income Taxes

Research in

Accounting for

Income Taxes

Earnings

management

The association

between

book-tax differences

Earnings

characteristics,

and the equity

market pricing of

information in the

Earning Management

Future research in earning

management

Earning

Management

Studies of earning management via the

tax contingency account

Studies of earning management via

discreation in reporting the US tax

expense on foreign profit

Studies of earning management via the

valuation allowance

Informational role of AFIT

• Earning quality proxies

Association between

boot tax differences

and earning

characteristics

• BRD and earning persistence

• Persistence of tax information – tax change component or earning

Tax Avoidance

Future research in pricing of tax

information in FS

The pricing of

tax information

reported in the

FS

Information content of estimated taxable income

and book tax difference

 _{Ass. Contemporaneous}

return and BTD

 _{Ass. future return and}

estimated taxable income

Tax

Contingency Deferred tax account

 Empirical studies

 _{Theoritical studies}

Conclusion

• _{Tax on real corporate decesion difficult to document.} • _{Informational role of AFIT}

– _{More detailed examination sources of books tax different}

• _{Tax avoidance, gov obejctive : closer the gap, increase complience and collect}

more revenue.

– _{Principle agent setting}

– _{Tax authority and corporate governance system}

– _{Theory and evidence causes and consequences of the tax avoidance}

• _{Taxes are one factor that enter into management cost banefit management}

TAX REPORTING

AGGRESSIVENESS

AND ITS RELATION TO

AGGRESSIVE FINANCIAL

REPORTING

Tujuan dan Kontribusi

Tujuan

• _{Menguji validitas pengukuran Tax Reporting Aggressivenes} • _{Menguji Hubungan antara FRA dengan TRA}

• _{Menguji Implikasi FRA dan TRA terhaaap kesejahteraan shareholder}

Kontribusi

• _{Menemukan adanya hubungan positif yang kuat antara FRA dengan}

TRA (Unexplore before)

• _{Mengembangkan pengukuran TRA yang mampu mendeteksi aktivitas}

Tax Shelter

• _{Untuk pertama kali menguji pengaruh FRA dan TRA terhadap Future}

Stock Return

Motivation of Study

Investigasi kenaikan FRA dan TRA

Perusahaan Amerika Investigasi

kenaikan FRA dan TRA

Perusahaan

FRA :Financial Reporting Aggressiveness TRA : Tax Reporting Aggressiveness

SEC: Securities & Exchange Commission

Treasury Dept fokus pada deteksi dan

tuntutan Aktivitas Tax

Shelter Treasury Dept

fokus pada deteksi dan

tuntutan Aktivitas Tax

Motivation of Study

Company

Financial

Statement

Income

Reported to

Tax Authorities

Motivation of Study

Trade

OFF

HIGHER

Book Income

To share Holder

LOWER

Taxable

Income

To Tax authorities

• _{Awal 1990an : US Corporation melaporkan Peningkatan}

Perbedaan antara Income yang dilaporkan kepada Shareholder VS Tax Authority.

• _{Indikasi  tidak terjadi Trade Off  terjadi Book Income Upward}

and Taxable Income Downward  periode yang sama

• Intinya : Peristiwa ini dimotivasi oleh Skandal Akuntansi yang dicerminkan oleh Aggresiveness Tax Shelter Activity dan

Peningkatan Book Tax Gap

Motivation of Study

NO TRADE OFF

Menggunakan Corporate Tax Planning Effectiveness dengan

proksi :

1. ETRs

2. Total Book Tax Difference

3. Cas ETRs

4. Discetionary Total BTD

(Residual from Regrression)

Mengukur Tax Reporting Aggressiveness

Alasan menggunakan Premanen Differences

(bukan Total atau Temporary BTD)

1. Penelitian terdahulu  temporary BTD mencerminkan

Manajemen Laba melalui Pretax Accruals (mis: Philips et all, 2003) Hubungan Palsu untuk proksi FRA. (472)

2. Cash ETR  Hubungan Palsu dengan FRA

3. Permanent Difference  Dollar, sedangkan ETRs dalam

persentase  Permanen Difference lebih Comparable to Total Acrual

4. Untuk mengukur TRA Permanen Difference lebih Konsisten 

dengan menganggap ‘Nature’ aktivitas tax shelter agresif 5. 5 dari 8 Tax Shelter generates Permanent Different (Wilson,

2009)

Alasan menggunakan Premanen Differences

(bukan Total atau Temporary BTD)

• _{Intinya : penelitian ini mengeluarkan Tax Planning yang Menggenerate}

Temporary Different (472)

• _{Walaupun Permanent Different lebih baik namun tidak}

mempetimbangkan beberapa item terkait TRA, seperti: State Income Taxe, Tax Credit, Change in tax cushion dan Change in valuation

Allowance account.

• Penelitian ini mengestimasi Discresionary Permanent Different (DTAX)

• Dengan meregresi Total permanen Different on Non Discresionary item

Validasi pengukuran TRA

• DTAX sebagai proksi TRA dihitung dengan cara:

• Dengan mengontrol nondiscresionary item yang tidak berhubungan dengan Tax Planning yang menyebabkan Permanent Different dan Other Statutory Adjustment

• Untuk External Validity Link it to sampel perusahaan menurut Graham and Tucker (2006) ttg perusahaan yang melakukan Tax Shelter.

Model 2

Memasukkan variabel lain yang berhubungan dengan Tax

Planning:

PTROA = Profitability (PTROA),

NOL_D = Net Operating Loss Carry Forward

FOR_D = Foreign Operation

• _{‘tanda’ dan signifikansi koefisien DTAX bertujuan untuk menunjukkan}

kemampuan DTAX dalam menjelaskan aktivitas tax shelter

• _{Alternatif pengukuran (Logit Regresion) membandingkan kemampuan}

masing-masing variabel dalam menjelaskan aktivitas tax shelter dengan kemampuan DTAX

• _{Antara lain:}

DD

= Residual dari Pooled Crossed Sectional

Regresion dari Total BTD on Total Accrual

• _{Keunggulan DTAX sebagai alternatif Pengukuran adalah:}

1. Mampu mengeluarkan Temporary Different yang merefleksikan earning management

2. Mengontrol Non Discresionary Source of Permanent

Kelemahan: Tidak mampu merefleksikan aktivitas Tax Shelter yang men-generate- temporary different (spt:Lease In Lease Out-LILO)

Relation Between FRA & TRA

• _{Pengukuran FRA.}

• _{Proksi FRA= Performance-Matchd discretionary Accruals (DFIN)--> Kothari}

et al (2005)

Robustness Test

• Perubahan pada tax cushion are terrefleksi pada permanent BTD and berpotensi menambah measurement error untuk mengukur TRA

• mengontrol lagged permanent differences (LAGPERM) in dalam perhitungan DTAX menghilangkan sejumlah TRA

• DTAX tidak secara langsung merefleksikan tax planning activity yang menghasilkan temporary different

• A strong positive relation between financial and tax reporting aggressiveness

• Insufficient cost exist to offset basic financial and tax reporting incentives, such that nonconformity between financial accounting standards and tax

allows firms to manage book income upward and taxable income downward in the same reporting period

• Stock return analysis confirms that investor do not fully incorporate the information in discretionary accrual into stock price and reveals that much investor mispricing is attributable to a hedge portfolio based on measure of tax aggressiveness for firms with the most aggressive financial reporting

Home Country Tax System

Characteristics

and Corporate Tax Avoidance:

International Evidence

T. J. Atwood; Michael S. Drake; James N. Myers & Linda A. Myers

Ruang Lingkup & Tujuan

Penelitian

kesesuaian antara laba akuntansi dengan laba fiskal

(book tax conformity - BTC) Pendekatan Worldwide vs

territorial

Persepsi terhadap enforcement

Tax Avoidance

Diartikan sebagai segala upaya yang menyebabkan terjadinya perbedaan

antara jumlah pajak sesuai dengan tarif yang berlaku dengan jumlah

pajak yang dibayarkan oleh perusahaan

(Dyreng et al. 2008)

Karakteristik Sistem Pajak

Performance, size, operating costs, leveraga, growth, presence of

multinational operations dan insdutry

Variabel Kontrol

Statutory corporate tax rates, earnings volatility dan institutional

factor Insentif Managerial

Variabel Moderasi

Motivasi & Kontribusi

Penelitian

Reformasi Pajak di AS untuk meningkatkan penerapan book-tax

conformity (Desai, 2005)

Penggunaan pendekatan teritorial (Avi Yonah, 2010)

Perlunya penegakan hukum dalam pajak (Shulman, 2009)

Tindak lanjut atas penelitian sebelumnya yang meneliti tentang

faktor-faktor yang mempengaruhi tax avoidance (Hanlon dan

Heizman, 2010)

Penelitian sebelumnya kebanyakan hanya berfokus pada salah satu

negara (Hanlon dan Heizman, 2010)

Literatur : Menggambarkan variasi cross-section atas tax avoidance

(lintas negara).

Pembuat Kebijakan (Pemerintah):

Dalam rangka menentukan/ menegakkan regulasi perpajakan

Investor : Dalam rangka menginterpretasikan/

Pengembangan Hipotesis 1

Tax avoidance yang dilakukan oleh manajer akan berkurang

dengan adanya peningkatan kewajiban penerapan tax–book

conformity di AS (Desai, 2005) Terdapat fleksibilitas perbedaan pelaporan laba kena pajak fiskal

dengan akuntansi pada setiap perusahaan di berbagai negara

(Atwood et al.2010)

Required

Book-Tax

Conformity

Tax

Avoidance

Pengembangan Hipotesis 2

Perusahaan induk di negara yang

menganut pendekatan territorial akan lebih diuntungkan jika mengalihkan laba ke

negara yang low enforcement karena deviden yang diterima dari anak perusahaan di luar negeri secara permanen dapat dibebaskan dari pajak

pada home country, sedangkan pada negara yang menganut pendekatan worlwide, pengalihan tersebut hanya bersifat penangguhan pada home country

(Hicks, 2009)

Perusahaan multinasional pada home country yang menganut pendekatan

territorial cenderung menggeser pendapatan pada afiliasi asing dibandingkan perusahaan pada home

country yang menganut pendekatan worldwide (Markle, 2010)

Home Country Menggunakan Pendekatan Territorial

Home Country Menggunakan Pendekatan Worldwide

Tax Avoidance

oleh

Perusahaan

Pengembangan Hipotesis 3

Hukuman yang dikenakan langsung kepada manajer akan lebih efektif dalam mengurangi tax avoidance dibandingkan

jika hukuman dikenakan kepada korporasi (Crocker dan Slemrod, 2005)

Menyusul peningkatan penegakan hukum perpajakan di Rusia, pembayaran pajak meningkat, perdagangan dengan pihak terkait

dibatasi dan entitas tax haven ditinggalkan (Desai, 2007)

Berdomisili di Negara Low Enforcement

Berdomisili di Negara Strong Enforcement

Tax Avoidance oleh

Perusahaan

Vs

Probabilitas pemeriksaan pajak yang tinggi meningkatkan kualitas akrual dan

Pengukuran Tax Avoidance

Pengukuran Required Tax-Book

Conformity (BTaxC) : (Atwood et al.

2010)

Kaidah Keputusan (Lihat Model Tax

Avoidance ):

Model Tax Avoidance dengan Incentive

Compensation

Ekspektasi Peneliti:

Terdapat perbedaan koefisien antara kategori

High

Model Tax Avoidance dengan Accruals Components

Ekspektasi Peneliti:

Terdapat pengaruh positif antara TaxAvoid dengan

accruals

.

WC = Current operating assets – Current operating liabilities

NCO = Noncurrent operating assets – Noncurrent operating liabilities FIN = Financial assets – Financial liabilities

SAMPEL DAN DATA

Sampel diperoleh dari semua perushaan yang terdaftar pada Compustat Global Industrial/Commercial data base dari tahun 1993-1997

kriteria yang digunakan untuk menentukan sampel dalam penelitian adalah :

• _{Pertama penulis membatasi sampel sebanyak 33 negara sebagaimana}

penelitian Atwood et al. (2010) untuk dapat mengestimasi required book-tax conformity.

• _{Kedua penulis membatasi sampel sebanyak 22 negara sebagaimana}

penelitian Towwers Parrin (2005) untuk dapat mengestimasi CEO Variabel pay

• _{Laporan laba rugi perusahaan selama tiga tahun yang memiliki laba}

positive sebelum pos luar biasa untuk menghitung tax aggressiveness.

• _{Menghapus perusahaan dari negara-negara yang tidak memiliki}

sedikitnya 20 perusahaan.

TABLE 1

HASIL PENELITIAN

1. Penelitian ini menggunakan permodelan regresi karena tujan dari penelitian ini adalah untuk mengetahui hubungan yang terjadi

antara variabel terikat dengan satu atau lebih variabel bebas.

Teknik pengolahan data yang digunakan dalam penelitian ini yaitu menggunakan regresi data panel.

TABLE 2

TABLE 2

TABLE 3

TABLE 4

TABLE 5

Analisis Sensitivitas

Dalam memperkuat bukti penerimaan hipotesis maka dilakukan robustness tests dengan menggunakan beberapa sampel penelitian: 1. Pengujian dengan menggunakan keseluruhan sampel untuk

melihat pengaruh penghindaran pajak dengan variabel yang digunakan adalah laba sebelum pajak sebelum pos luar biasa dan menghasilkan data yang signifikan.

2. Melakukan uji antara penghindaran pajak dengan karakteristik sistem pajak dengan mengurangi sampel perusahaan multinasional diperoleh hasil BTaxC dan TaxEnf signifikan namun koeefesien WW tidak signifikan.

KESIMPULAN

1. Tujuan penelitian adalah untuk menguji Bagaimana pengaruh karakteristik sistem pajak yaitu kesesuaian antara laba akuntansi dengan laba fiskal (book tax conformity - BTC) dengan pendekatan teritorial dan worldwide dan penegakan hukum pajak terhadap penghindaran pajak (Tax Avoidance).

2. Hasil penelitian menunjukkan bahwa perusahaan-perusahaan dinegara-negara yang memiliki karakteristik BTC rendah dan penegakan hukum yang rendah cendrung melakukan penghindaran pajak.

3. Penghindaran pajak juga berhubungan dengan karakteristik perusahaan di suatu negara dalam menerapkan sistem kompensasi terhadap manajemen yang terkait dengan variabel gaji (seperti bonus, saham, dan opsi saham).

4. Hasil penelitian menunjukkan bahwa, selain faktor spesifik perusahaan yang menjadi variabel independen pada penelitian sebelumnya yaitu performance, size, intangibles, debt financing, dan precence of multinational operations

IMPLIKASI PENELITIAN

Penelitian ini memberikan kontribusi pada: 1. Otoritas pajak (negara)

Memberikan kontribusi dalam terkait dengan upaya yang dilakukan oleh suatu negara untuk meminimilisasi penghindaran pajak yaitu diantaranya dengan cara:

a. Negara harus melaksanakan penegakan hukum yang kuat.

b. Lebih memperhatikan kebijakan yang berhubungan dengan kesesuaian antara antara laba akuntansi dengan laba fiskal (book tax conformity - BTC)

2. Perusahaan lebih memperhatikan kontrak kompensasi dengan manajemen karena hal tersebut dapat berdampak pada terjadinya

Overview Tax Research

• A review of Tax Research, Michelle Hanlon and Shane Heitzman, Journal of Accounting and Economics (2010) (50) 127-178.

• _{Research in accounting for income taxes, John R.Graham, Jana}

S.Raedy , Douglas A.Shackelford Journal of Accounting and Economics (2011) Nov. 412-434.

• _{The Future of tax Reserach: From an Accounting Proffessor’s}

Perspective, Terry Shevlin, the Journal of the American Taxation Association, Fall 2007; 87

• _{Empirical tax research in accounting Douglas, “A.Shackelford, Terry}

BTD & ETR

• Determinants of the Variability in Corporate Effective Tax Rates,

Evidence from Longitudinal Data, Sanjay Gupta and Kaye Newberry, Journal of Accounting and Public Policy, 16, (1997), 1-34.

• _{Tax Avoidance: Does Tax-Specific Industry Expertise Make a}

Difference?, Sean T. McGuire, Thomas C. Omer, Dechun Wang, The Accounting Review, Vol. 87, No. 3, 2012, pp. 975–1003.

• _{Determinants of the variability in corporate effective tax rates and tax}

reform: Evidence from Australia, Grant Richardson, Roman Lanis, Journal of Accounting and Public Poliy, 26, 689-704.

BTD & QUALITY OF INCOME

• _{Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings}

Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120

• _{Taxable Income as a Performance Measure:The Effects of Tax Planning and}

Earnings Quality, Benjamin C. Ayers, John Xuefeng Jiang and Stacie K Laplante, Contemporary Accounting Research, Vo 26, No 1 (Spring 2009) pp. 15-54

• _{The Persistence and pricing of earning accrual, and cash flows when firms have}

large book tax difference, Michelle Hanlon, The Accounting Review, Vol 80 No 1, (2005) pp 137-166.

• _{The Persistence, Forecasting and Valuation Implication of Tax Change}

Component of Earnings, Ancrew P. Shmidt, The Accounting Review, May 2006:81

• _{An uninteded consequence of book-tax conformity: A loss of earnings}

BTD & ASET PRICING

Tax Avoidance & Earning Management

• _{Can book–tax differences capture earnings management and tax}

Management? Empirical evidence from China, Tanya Tang, Michael Firth, The International Journal of Accounting 46 (2011) 175–204.

• _{Tax Reporting Aggressiveness and Its Relation to Aggressive Financial}

Reporting, Mary Margaret Frank, Luann J. Lynch, Sonja Olhoft Rego, The Accounting Review, 2009, Vol 84 No 2 pp.467-496

• _{Creating a Bigger Bath Using the Deferred Tax Valuation Allowance,}

Theodore E. Christensen, Gyung H. Paik and Earl K. Stice,Journal of Business Finance & Accounting, 35(5) & (6), 601–625, June/July 2008.

• _{Earning Management: New Evidence Based on Deferred Tax Expense, John}

Philips and Porton Pincus, Sonja Ofhoft Rego, The Accounting Review, Apr 2003:78.

• _{Dhaliwal, D., C Gleason, dan L. Mills. (2004). Last chance earnings}

Tax Behavior

• _{The impact of audit risk, materiality and severity on ethical decision making: An}

analysis of the perceptions of tax agents in Australia, Rex Marshall, Malcolm Smith, Robert Armstrong, Managerial Auditing Journal, 21 5, 2006, 497-519

• _{Social responsibility, Machiavellianism and tax avoidance: A study of Hong}

Kong, tax professionals, William E. Shafer, Richard S. Simmons, Accounting, Auditing & Accountability Journal, Vol. 21 Iss: 5, (2008), pp. 695 – 720.

• _{The importance of faith: Tax Morale and religiosity, Benno Torgler, Journal of}

Economic Behavior & Organization, 2006:81-109

• _{A Note on the Relation between Frames, Perceptions, and Taxpayer Behavior,}

Scot B. Jackson and Richard C. Hatfield, Contemporary Accounting Research

Tax Avoidance, CG, CSR

• Tax avoidance, tax management and corporate social responsibility, Fariz Huseynov, Bonnie K. Klamn, Journal of Corporate Finance, 18 (2012), 804-827

• _{Minnick, Kristina dan Tracy Noga. (2010). Do Corporate Governance}

International Tax

• _{The determinants of thinly capitalized tax avoidance structures: Evidence}

from Australian firms, Grantley Taylora, Grant Richardsonb, Journal of International Accounting, Auditing and Taxation 22 (2013) 12– 25.

• _{The demand for tax haven operations, Mihir A. Desai, C. Fritz Foley, James}

R. Hines Jr. Journal of Public Economics 90 (2006) 513– 531.

• International Corporate Tax Avoidance Practices: Evidence from Australian Firms, Grantley Taylor and Grant Richarson, The International Journal of Accounting, 47 (2012) 469–496.

• _{Cross-Jurisdictional Income Shifting by U.S. Multinationals: Evidence from}

Book Tax Gap

Book Tax Gap

Tax Avoidance, Large Positive Temporary Book-Tax Differences, and Earnings Persistence, Bradley Blaylock, Terry Shevlin, Ryan J. Wilson, The Accounting Review, Vol. 87, No. 1 (2012), pp. 91–120

Book Tax Confirmity

Atwood, T.J., Drake, M.S., & Myers, L.A. (2010). Book-tax conformity, earnings persistence and the association between earnings and future cash flows. Journal of Accounting and Economics, 50, 111–125.

Calls for eliminating differences between accounting earnings and taxable income in the US have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects

Book Tax Confirmity

Home country tax system Characteristics and corporate tax avoidance: international Evidence, T.J. Atwood, Michael S. Drake, James N. Myers Linda A. Myers, The Accounting Review, ol 87, No 6 (2012) pp.1831-1860

131

Dwi Martani - 081318227080

martani@ui.ac.id atau dwimartani@yahoo.com http://staff.blog.ui.ac.id/martani/

Dwi Martani - 081318227080

martani@ui.ac.id atau dwimartani@yahoo.com

http://staff.blog.ui.ac.id/martani/